ITV secures final 25 per cent stake to take control of GMTV

By DAILY MAIL REPORTER
Updated:

Commercial broadcaster ITV has today bought Disney's 25 per cent stake in the morning broadcaster GMTV to take full control of the company.

ITV paid £22.25million for the holding which it has been trying to secure ever since it increased its own share to 75% in 2004, following the purchase of broadcaster STVs stake for £31million.  

ITV's director of television, Peter Fincham, met GMTV staff today to announce the start of an editorial review next week.

cresswell

Peas in a pod: John Cresswell said GMTV was the gateway to the ITV day


It remains unclear whether ITV intends to make changes or redundancies, but chief operating officer John Cresswell said that the two companies were well matched.

'GMTV is the gateway to the ITV day and a perfect fit with ITV's existing daytime programming. It represents an exciting opportunity to create a highly complementary daytime schedule offering great programming from 6am to 6pm,' he said.

GMTV boasts an audience of around five million every morning.

Most watched Money videos